"Trump Slams H-1B Visas with $100,000 Fee in Blow to Tech Industry Giants"

President Trump's administration has introduced a significant increase to the cost of hiring foreign workers through the H-1B visa program, requiring employers to pay a $100,000 fee for new applications. The move aims to combat what the administration sees as widespread abuse of the program, which allows US companies to hire technical experts from abroad. According to the White House, Trump signed a proclamation on Friday announcing the new requirement, effective immediately. This enormous jump in fees is a significant increase from the current 215 lottery registration fee for H-1B visa applications. The program is capped at 65,000 new visas annually, plus an additional 20,000 for foreign graduates with advanced degrees from US universities. Critics argue that this will disproportionately affect tech startups and small businesses in Silicon Valley, where many successful entrepreneurs like Elon Musk got their start through the H-1B program. "This is a devastating blow to the tech industry," said a spokesperson for a prominent tech startup. "The H-1B program has been instrumental in launching the careers of countless innovators and entrepreneurs, including some of the most successful companies in Silicon Valley." According to TechCrunch, the H-1B visas are awarded through a lottery system and typically last three years, though holders can extend them or apply for green cards. The administration's new move is designed to combat what it sees as widespread abuse of the program, with some critics arguing that it has been exploited by companies seeking to undercut US workers. However, supporters of the move argue that it will help protect American jobs and prevent exploitation of foreign workers. "We need to ensure that our immigration policies are fair and equitable for all Americans," said a White House spokesperson. "This new requirement will help prevent abuse of the H-1B program and ensure that US companies are hiring the best talent from around the world." The move has sparked widespread criticism from tech industry leaders, who argue that it will stifle innovation and hurt small businesses. "This is a classic example of government overreach," said a prominent venture capitalist. "We need to be encouraging entrepreneurship and innovation, not stifling it with unnecessary regulations and fees." As the debate continues, one thing is clear: the new requirement will have significant implications for US companies looking to hire foreign workers through the H-1B program. With the cost of hiring an H-1B worker now effectively doubling, some experts predict that this could lead to a decline in applications and a shortage of skilled workers in key industries. The administration has not yet announced any plans to adjust the cap on H-1B visas or provide additional support for US companies looking to hire foreign workers. As the situation continues to unfold, one thing is certain: the future of the H-1B program remains uncertain, and its impact will be felt far beyond Silicon Valley. Sources: White House proclamation announcing new requirement TechCrunch article on Trump's move to increase H-1B fees This story was compiled from reports by TechCrunch and TechCrunch.